Marcy Sheridan Apartments will be a newly constructed nine-story, 74-unit elevator building located on privately owned vacant land in the East Concourse neighborhood of Bronx. The project will be a mix of supportive housing and affordable housing for low-income families. The building will feature on-site social services offices, a community room, a computer room and library, an outdoor garden, patio and children’s play area. The development site is vacant land located on the corner of Marcy Place and Sheridan Avenue, a residential area one block from the Grand Concourse and two blocks from the 170th Street B and D subway station.
The project will serve two populations: There will be an estimated 37 studio apartments targeted to single adults living with HIV/AIDS and referred by the NYC Human Resources Administration (HRA). The project will be the first project completed under NYS Housing and Community Renewal’s Mixed-Income Pilot Program, an initiative that uses income-averaging and cross-subsidization to provide affordable housing for both low-income and moderate-income households. Marcy Sheridan Apartments will serve households at up to 50%, 60%, and 85% AMI, while also including supportive housing for adults with special needs. Services for the UnderServed provides 24-7 front desk services as well as supportive services from a first-floor office suite. Amenities include a community room with a kitchen, a computer room/library, an exercise room, and a rear garden and children’s play area. The building incorporates extensive high-performance and energy-efficient components including solar panels. Capital financing for the project is expected to come from two sources: Low Income Housing Credit and State Low Income Housing Credit equity, to be used as both construction and permanent financing. SLCE Architects is the architect and D.P. Group General Contractors will be the general contractor for the project.